— Snap-on Incorporated (NYSE: SNA) reported third-quarter 2019 earnings of $2.96 per share, versus $2.94 per share expected.
— Net sales rose 0.4% to $901.8 million, versus $909.6 million expected. The results were driven by a 1.4% increase in organic sales and acquisition-related sales.
— Sales from the Commercial & Industrial Group segment rose 1.5% while that from the Tools Group segment declined by 1.2%.
— Repair Systems & Information Group segment sales grew by 2.6% and Financial Services revenue rose by 3%.
— For full-year 2019, the company expects capital expenditures in the range of $95 million to $105 million.
— The effective income tax rate for the full year is still predicted to be comparable to its 2018 effective tax rate of 24%.
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